If an Economist Wishes to Determine Whether There Is Evidence

question 20

Multiple Choice

If an economist wishes to determine whether there is evidence that mean family income in a community exceeds $50,000

• A)either a one-tail or two-tail test could be used with equivalent results.
• B)a one-tail test should be utilized.
• C)a two-tail test should be utilized.
• D)None of the above.

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Definitions:

Global Business

The conduct of commercial transactions and activities across national borders, involving companies operating in multiple countries.

Professional Behaviour

Conduct that is ethical, considerate, and in adherence to workplace norms and policies.

Extended Gaze

A prolonged look or stare directed towards someone or something, often indicating interest or scrutiny.

Arabs

Refers to people from the Arabic-speaking countries located primarily in the Middle East and North Africa.